Royal Mail chairman Donald Brydon announces he is stepping down

29th January 2015

Royal Mail chairman Donald Brydon is to leave his post, the company has today confirmed.

Brydon, who oversaw the controversial privatisation of the delivery company in 2013 has been in the position since 2009, will remain in the job until at least the AGM in the summer the company said in a statement.

Senior independent director, Orna Ni-Chionna, has already started looking for a successor.

Brydon said: “I am proud of what Royal Mail has achieved as a company in the last six years. Our transformation is well underway and we are now a FTSE 100 listed company. I feel that now is the right time for me to make this decision.”

Group chief executive Moya Greene added: “Donald has played a key role as Chairman during one of the most eventful periods in our history. I would like to personally thank him for his support and counsel.”

Last week the delivery firm reported in its trading update for the nine months to 28 December 2014, that it handled around 120m parcels in the month of December alone, 4% more than last year and that revenues overall were up 1%.

This morning Royal Mail shares were down by 5.3p or 1% at 432.5p by 09:29 following the news.